NZ: Nobilo to invest NZ$100m in increasing production
New Zealand's second largest Nobilo Wine Group is planning to invest over NZ$100m over the next six years in an effort to more than treble the company's production, the New Zealand Herald reported today.
In a meeting with customers and suppliers, managing director Brian Vieceli said Nobilo, expected to crush 18,000 tonnes by 2008, or 1.5m cases, compared to 9,500 tonnes this year.
He said there would be a major capital expenditure programme, to meet these aims. "We will spend over $100 million by 2008," he said.
Sauvignon Blanc will remain Nobilo's main grape varietal, making up 50% of sales, with Chardonnay accounting for 17%, Merlot 8% and Pinot Noir 5%. The varietal mix for the company's White Cloud brand will account for a further 14% of sales.
At the moment domestic sales account for around 60% of Nobilo's business but this expected to fall to 39% by 2008.
"Export is obviously going to be the main driver of the New Zealand wine industry opportunity," said Vieceli.
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